OCB — Research · Coverage
What we measure.
And the bar something clears to get rated.
OnChain Benchmark rates tokenized real-world assets that have formed a measurable onchain market. Coverage is deliberate, not exhaustive — an instrument is individually rated only once there is enough onchain evidence to score it honestly against the rubric. Everything we track is listed below, rated or emerging.
24
Rated instruments
40
Emerging (tracked)
5
Asset classes
9
Chains
25
Issuers
01 · What earns a rating
Two states: rated, and emerging
Rated
An instrument is individually rated when it has enough onchain history — a real holder base and verifiable issuer disclosure — to score it against all four dimensions without guessing. These carry a trust score and a public band. Treasuries, commodities, private credit, and stablecoins are rated today.
Emerging
Tracked from inception but not yet individually rated. Newer categories — the tokenized equities, for example — share near-identical inputs because the market hasn’t formed yet. We measure them as a single emerging class and graduate each to a full rating once it clears the published materiality bar, rather than publish a score we can’t defend.
The scoring rubric and inclusion thresholds are published in full at /methodology →
02 · Instruments
The catalog, by asset class
Tokenized Treasuries
14
03 · Where it lives
Chains and issuers
Chains
Issuers
04 · Scoring dimensions
Four dimensions, equally weighted. Every score traces to evidence.
Disclosure Quality
25%
Frequency, completeness, and verifiability of reserve attestations and fund documentation published by the issuer.
Redemption Liquidity
25%
On-chain supply depth, mint/redeem function accessibility, and daily redemption capacity relative to total supply.
Structural Trust
25%
Contract upgrade authority, admin key controls, multisig structure, and governance mechanisms.
Holder Concentration
25%
Top-holder supply concentration, Gini coefficient over time, and evidence of whale dominance.
Methodology v1.1 — locked. Full methodology →
05 · Recipes